The Field-Erected Cooling Tower Market is projected to grow from an
estimated US$1.78 billion in 2017 to US$2.15 billion by 2022, at a CAGR
of 3.78%, from 2017 to 2022.

Stringent environmental regulations and growth in industrial activities
are driving the demand for the field-erected cooling tower market across
the world. The rise in alternative energy programs is a restraint for
the field-erected cooling tower market.

The power generation segment is the largest end-user market.
Field-erected cooling towers are used to cool the circulating water.
Power plants implement closed cooling systems with the towers to deal
with water scarcity. The towers initiate the cooling process by reusing
the water, making power plants economical and environment-friendly. The
growth in the energy demand, resulting from increasing population, is
likely to drive the demand for field-erected cooling towers in the power
generation industry.

The Asia Pacific region was expected to lead the field-erected cooling
tower market with the largest market share in 2017 and is projected to
grow at the highest CAGR from 2017 to 2022. The rising population,
urbanization, and industrialization, along with growing concerns related
to infrastructure development in China and India are some of the factors
driving the market in this region. Further, the region is developing as
the fastest growing end-market for iron & steel and metallurgy. The
region houses the world's biggest steel industry, which would further
boost the field-erected cooling tower market in the region.